Loans are offered by banks and financial institutions to help customers buy pre-owned vehicles. Used car loans are available to purchase cars, SUVs, MUVs and jeeps. Banks have different terms and conditions, eligibility criteria and interest rates offered on their loans. Comparing loans will help you determine the best pre-owned vehicle loan. Banks will determine if you qualify for a loan based on the age and model of the car you wish to buy, the condition of the vehicle, the market value, your income, age and work experience.
|Loan Provider||Loan Quantum||Interest Rate||Type of Interest Rate|
|TVS Credit Service||Up to 85% of valuation||Up to 15%||Floating|
|HDFC Bank||80% of market value||14.50% to 17.50%||Fixed|
|Andhra Bank||60% of the on-road price||10.25%||Fixed|
|Au Financiers||Rs.50,000 to Rs.15 lakhs||17.00% to 23.00%||Floating|
|Federal Bank||75% of depreciated value||11.25% to 12.50%||Fixed|
|Bank of Baroda||80% of on-road price||10.50%||Floating|
|Central Bank of India||75%||10.60%||Floating|
|Bank of Maharashtra||50%||10.35%||Floating|
|Indian Bank||60% of market value||12.90%||Floating|
|Bank of India||70% of market value||10.95%||Floating|
|State Bank of India||85%||13.05%||Floating|
|ICICI Bank||80% of on-road price||15.50%||Fixed|
|Oriental Bank of Commerce||70% of market value||12.55%||Floating|
|Tamilnad Mercantile Bank||70% of market value||11.75% to 12.00%||Floating|
|Punjab National Bank||70% of market value||11.20% to 11.70%||Floating|
|Kotak Bank||85%||17.00% to 20.00%||Fixed|
|Union Bank of India||50%||12.90%||Floating|
Get a pre-owned vehicle this Diwali with a suitable used car loan. Find the best deal for you on BankBazaar with custom quotes from top providers in the country. Use the EMI calculator to find out whether the loan is affordable and convenient.
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